London, 25 October (Argus) – Iraqi state-run marketer Somo has raised its allocation for November exports of its medium sour Basrah Light grade from the country's southern terminals.

A total of 75.95mn bl of Basrah Light has been allocated for November, equivalent to 2.53mn b/d. This is a 7pc increase from the October allocation of 71.01mn bl, or 2.29mn b/d.

Actual exports of Basrah Light hit a post-2003 high of 2.28mn b/d in August, as a result of the start-up earlier in the year of two offshore single point moorings. Bad weather conditions delayed loadings in September, pushing that month's exports down slightly to 2.18mn b/d. Inclement weather also led to a two-day halt in shipments earlier in October.

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